Blackstone Mortgage Trust Inc sees new “Go” identified as prices climb in an ascending triangle.
This is a solid GoNoGo set up. After hitting lows in the “NoGo” late last year, GoNoGo Oscillator showed bullish divergence as it set higher lows. As the basing pattern progressed, we saw the oscillator rise to and ride the zero line before breaking above it on heavy volume. We like to see GoNoGo Oscillator above zero during the ride side of a pattern such as this. It has since found support, riding the zero line again, as the GoNoGo Squeeze rose to an extreme. GoNoGo Trend was unable to maintain “NoGo” colors as we saw a string of amber “Go Fish” bars before the current bar turned aqua. This happens as the oscillator breaks out of a max squeeze back into positive territory. Price is currently at levels that have provided both support and resistance so we will want to see consolidation at or above this level.
